Bitwise, a company that manages investments, is planning to release a new exchange-traded fund (ETF) that will follow the price of HYPE, the digital currency used by Hyperliquid.
The ETF will start trading on May 15 under the ticker BHYP on the New York Stock Exchange (NYSE).
Capitalizing on Hyperliquid’s Growth and Dominance
Bitwise announced that its HYPE ETF is the first of its kind to handle staking directly within the fund itself. They designed it to make it easy and affordable for investors to benefit from the growth of Hyperliquid. Marc Antonio, head of DeFi at Galaxy, praised the move, saying Bitwise and Matt Hougan are doing impressive work.
According to data from DeFi Llama, Hyperliquid currently accounts for around 60% of all open interest in on-chain perpetual decentralized exchanges. The platform can handle up to 200,000 orders every second and has proven to be very reliable. Bitwise predicts this positions Hyperliquid to be a major winner as more financial activity moves to blockchain-based systems.
Bitwise’s Chief Investment Officer, Matt Hougan, explained that the blockchain demonstrated its value earlier this year when global events caused traditional markets to pause. During that time, people used it to figure out accurate prices for assets.
According to Hougan, Hyperliquid is currently a very promising investment in the cryptocurrency market.
Since its launch two years ago, Hype has quickly grown to become a top ten cryptocurrency, now boasting a market value of over $11 billion.
The Hyperliquid token is specifically structured to reward its holders when trading increases on the platform, and this has led to significant returns in the past, according to sources.
Bitwise Shares Fees
According to the fund’s official documents, BHYP has a 0.34% fee paid to the sponsor, Bitwise. However, Bitwise will waive this fee for the first month, but only on the initial $500 million invested. It’s also important to note that this product isn’t registered as a traditional investment company, so it doesn’t offer the same level of investor protection as exchange-traded funds (ETFs) or mutual funds.
This week, 21Shares released a comparable product called THYP, which tracks the HYPE token. It generated $1.8 million in trades on its first day, an amount analyst James Seyffart considered fairly typical.
I’ve been tracking the inflows, and we’ve now seen a total of $7.42 million come into the fund. Interestingly, yesterday accounted for almost $5 million of that total, indicating a significant surge in interest.
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2026-05-15 20:37